Brent (Crude Oil) signal!Although we are still on the upward trend The price of oil encountered serious resistance in the form of an Ichimoku cloud!
We recommend selling now
Sell Brent
Entry price: 61.45
Stop Loss: 63
Take Profit: 58.75
Brentoilanalysis
A great opportunity to sell in Brent Oil. don't miss it.Midterm forecast:
Although current trend is uptrend but we forecast a downtrend wave would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the peak at 70.35 on 2018-01-15 and the peak at 80.5 on 2018-05-22, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 47.
Trading suggestion:
There is a possibility of temporary retracement to suggested Sell Zone (77.65 to 80.40). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (77.65)
Ending of entry zone (80.40)
Entry signal:
Signal to enter the market occurs when the price comes to "Sell zone" then forms one of the reversal patterns, whether "Shooting Star" or "Peak" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 75.40
TP2= @ 73.25
TP3= @ 71.30
TP4= @ 68.85
TP5= @ 66.65
TP6= @ 62.35
TP7= @ 58.15
TP8= Free
Brent Crude Oil. Full technical and Wave analysis
There are a lot of intraday signals for good setup. But consider the situation at the moment. One of them is now presented on the chart and is ready for implementation
Brent Crude Oil approaching support, potential for a bounce!BCOUSD is approaching strong support at 63.54 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a nice bounce could potentially occur at this level to push price up to major resistance at 66.35 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
Stochastic (34,5,3) is seeing major support above 2.1% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Brent Crude Oil testing major resistance, potential for a drop!
Brent Crude Oil (BCOUSD) is tesing major resistance at 66.64 (Fibonacci extension, Fibonacci retracement, horizontal pullback resistance) and a strong reaction could occur at this level to push price back down to 64.31 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,5,3) is seeing major resistance at 98% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Crude Oil BrentHere we see Elliott Triangles, expanding. Lower line declining.
Bears, are u ready?
My long-term vision.
Oil trying to be optimisticFormed an inverse H&S at the 4-Hour chart. Possibly have already 'retested' it.
long UKOIL @ 1h @ trading capability for this 2nd week `17This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
Best regards :)
Aaron
Potential Upside in Brent Crude Oil (Cont'd)Continuation from previous post, and adopting @pipizer feedback in the comments:
1. The past few days has saw a drop in the price mainly due to reports on OPEC output in October reached an all-time high. This lead to a further decrease which finally complete the Cypher Pattern.
2. A reversal candle (hammer) was formed the following day (14 Nov) with a long tail signalling bulls overcoming the bears at EOD. Mainly driven by renewed hopes of OPEC output deal.
3. Breakout of previous day hammer lead an opportunity to long and my entry was around the area stated, with a Stop Loss placed around the support region indicated.
4. I have identified 3 potential resistance zone and they fall nicely into the fib retracement 0.236, 0.382 and 0.618 area.
5. The first resistance zone break will cause more conservative traders to go on a long due to a 2nd breakout and short position traders will start covering their shorts which becomes the driving force to push further up.
6. Still, upcoming OPEC deal will be the crucial driving force for it to either trumps or fall. It will still be volatile during this period.
7. My exit strategy will be on a trailing stop in this case.
Potential Upside in Brent Crude OilMy first trading idea, here to learn from the experts, please give feedback on this idea.
Several Signals I have identified:
1. Cypher Pattern has confirmed potential reversal zone
2. A support level at 45.48 area is forming
3. Still in an long term upward trend
4. Catalyst moving it up would rely on upcoming OPEC deal on production cut
What to do now?
Wait for a reversal candle to affirm confirmation of entry. Trade on breakout of resistance 47 area.
BRENT CRUDE OIL SELL OPPORTUNITY ! DOUBLE HEAD AND A STRONG RESISTANCE ZONE THERE IT SHOWS CLEARLY A DOWN MOVEMENT FOLLOWING THE BIG DOWN TREND THAT HAS STARTED LONG TIME AGO
SO SHORT GOT TP @ 45.00 AND LONG TP @ 39.00
